SVA Wealth Management LLC Has $3.14 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

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SVA Wealth Management LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 7.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 54,983 shares of the cell phone carrier’s stock after selling 4,313 shares during the quarter. SVA Wealth Management LLC’s holdings in Verizon Communications were worth $3,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Telos Capital Management Inc. increased its stake in Verizon Communications by 322.4% during the 4th quarter. Telos Capital Management Inc. now owns 63,733 shares of the cell phone carrier’s stock worth $3,583,000 after buying an additional 48,645 shares in the last quarter. Cordatus Wealth Management LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $1,712,000. Sigma Planning Corp grew its position in shares of Verizon Communications by 2.2% in the fourth quarter. Sigma Planning Corp now owns 134,341 shares of the cell phone carrier’s stock valued at $7,553,000 after purchasing an additional 2,841 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Verizon Communications by 36.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 641,537 shares of the cell phone carrier’s stock valued at $36,067,000 after purchasing an additional 171,058 shares in the last quarter. Finally, Edgemoor Investment Advisors Inc. grew its position in shares of Verizon Communications by 0.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 220,957 shares of the cell phone carrier’s stock valued at $12,422,000 after purchasing an additional 1,783 shares in the last quarter. Institutional investors own 65.92% of the company’s stock.

VZ traded down $0.47 during trading hours on Friday, reaching $59.96. The company’s stock had a trading volume of 8,789,968 shares, compared to its average volume of 10,478,562. Verizon Communications Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $61.58. The stock has a market cap of $249.92 billion, a PE ratio of 12.73, a P/E/G ratio of 2.90 and a beta of 0.52. The business’s 50-day moving average is $56.95 and its 200-day moving average is $57.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.87 and a quick ratio of 0.84.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $32.42 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Verizon Communications Inc. will post 4.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.10%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 9th. Verizon Communications’s dividend payout ratio is 51.17%.

In other Verizon Communications news, CEO Tami A. Erwin sold 17,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total transaction of $981,750.00. Following the transaction, the chief executive officer now directly owns 853 shares in the company, valued at $49,260.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $58.15, for a total value of $78,444.35. Following the transaction, the executive vice president now owns 25,379 shares in the company, valued at $1,475,788.85. The disclosure for this sale can be found here. Insiders have sold 21,047 shares of company stock worth $1,212,038 over the last 90 days. 0.03% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, September 2nd. Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Tuesday, August 27th. Citigroup set a $62.00 price objective on Verizon Communications and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, UBS Group cut Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price objective on the stock. in a report on Thursday, May 30th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus price target of $60.96.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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